With 15 years of experience in private syndications, Steve Suh, Founding Member of Left Field Investors, reveals lessons in his book, “Avoiding Rookie Errors as a Left Field Investor.” He highlights the value of operator communication, thorough due diligence, and investing in reliable asset classes, providing essential tips for all investors.

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Transcription

Introduction to Cash Flow and Syndications

Steve Suh: Getting cash flow on a monthly or quarterly basis is definitely very important. When you invest in syndications, you’re risking your money. Every dollar you get back, you’re actually decreasing your risk in that investment. So it might be 50, 000 you’re putting in. If you get 20 back the first month and then 30 the next month, you’re risking that investment each time.

Ben Fraser: What I tell a lot of people is when they’re just getting started and people that have, say, a liquidity event, they sell a business, they have a ton of cash to try to deploy. Invest it. Slowly as humanly possible because what you’ll end up finding is a lot of the deals that you do at first you may not do a couple years down the road you look back with hindsight and more experience.

Steve Suh: Don’t hurry into a deal. Sponsors will say oh this is the greatest deal I’ve seen well that is marketing unfortunately. Investing in boring asset classes such as multifamily and self storage is very important for anybody in any stage in their investment career. 

Guest Introduction: Steve Suh

Ben Fraser: Welcome back to the Invest Like a Billionaire show super excited to have Steve Suh on today.

Steve is an ophthalmologist. He’s also one of the founding members of Left Field Investors, which is a really cool group that he’s going to show more about. We’ve had the privilege of getting to attend some of their events. And seeing the amazing growth that they’ve had at this private limited partner investor group.

Super excited to bring Steve on because he’s recently consolidated some of his thoughts on investing over the past several years and put together a really nice quick read which we’re going to link to in the comments here called Avoiding Rookie Errors as a Left Field Investor. 20 Lessons Learned from 14 Years.

A passive investing in private syndications. So this is invaluable, right? Because a lot of people that are coming up to speed on alternative investments, investing in private syndications and funds, et cetera, made out of university for as long as Steve has. And there’s a lot of things that you can learn from people like Steve.

They’ve been doing it for a while. And hopefully save you some heartburn, give you some shortcuts. 

This is the Invest Like a Billionaire podcast, where we uncover the alternative investments and strategies that billionaires use to grow wealth. The tools and tactics you’ll learn from this podcast will make you a better investor and help you build legacy wealth. Join us as we dive into the world of alternative investments, uncover strategies of the ultra wealthy, discuss economics and interview successful investors.

So with the long winded intro, Steve, Thanks so much for coming on the show and super excited to dive in. 

Steve Suh: It’s an honor to be on your show. Thanks a lot for inviting me, Ben. 

Ben Fraser: Yeah. 

Steve’s Investment Journey

Ben Fraser: Give the listeners a little bit of background on you and also your participation in the left field investor group and how that kind of came to be.

So give us a little background. 

Steve Suh: So I started investing in real estate syndications about 15 years ago, and that first foray was not a very positive one. I invested in some oil and gas syndications back then. I did make a, made a, just a little bit of money, but the communications and the returns were dwindling as time went on after a year or two.

And so I was actually in four, or excuse me, five different syndications with the same oil and gas people and ultimately I ended up losing all my money. I guess it just ended up being a Ponzi scheme. So I got trapped in that, didn’t know how to get sponsors, didn’t know how to really do background checks on people.

So I ended up learning a big lesson from that. Got into some active investing, and did own three small rentals around Ohio. Where I live, lived and then didn’t really enjoy being, enjoyed being a landlord. I did have property management, but I felt like I was being constantly bombarded by questions from them.

And I’m, as you said , a busy ophthalmologist and working full time still. So I just felt like this is not the way for me to go. So I kept looking into syndications more and then got into some more syndications and deals. In 2015, 2016 timeframe. And I learned some lessons from those as well.

They were more development deals and I still have yet to really see a return from those investments. But in the latter half of my syndication career I’ve been doing a lot better with my investments and learned a heck of a lot of lessons. 

Founding Left Field Investors

Steve Suh: And along the way, I ran into some other passive investors, namely Jim Pifer and he, along with Sean Donnelly and Chad Ackerman and Ryan Stig, we all started a group called left field investors back in 2020.

We met on a zoom, even though it was supposed to be a live local meetup, but March of 2020 is when the pandemic hit and we weren’t allowed to meet. So zoom allowed us to meet virtually. And we’ve been, we met monthly for a few years and then now we have an active forum and we have a lot of networking events and a lot of education on our website.

So we are A group of a community of passive investors who are like minded. And we try to teach each other what we’ve learned about other sponsors and deals and that kind of thing. So it’s an invaluable resource for people who are interested in passively investing in syndications. 

Ben Fraser: That’s awesome.

Yeah. We’ve had Jim by far on the podcast a couple of years back and it was so fun to hear the Genesis story. Cause what sounded like, Hey, let’s just get together at a local meetup group. Cause you guys were all in the same geography, right? And we have to now shift to zoom, by default because of the pandemic and now it’s.

Blown up into a pretty big organization. How many active members do you guys have right now? 

Steve Suh: We have well over 2000 members right now. 

Ben Fraser: Yeah. Yeah. That’s incredible. And a lot of what you guys are doing is really pioneering a lot of just the passive investor education which we’re obviously very passionate about as well, and really helping people get a leg up, right?

Cause a lot of the intrigue of the private alternative syndication, in the private investments world. It attracts a lot of people, but it also attracts, like you said, rookies using the terminology from your book. And it can be hard if you have to go it alone to figure out, where do I start?

How do I do due diligence? Never heard of due diligence and what should be my approach to investing. And I’ve highlighted a couple of lessons in your book. You put these simple 20 lessons together. Yeah. 

Lessons from Investing

Ben Fraser: But the one of the ones that it’s jumping out to me based on your past experiences, talk about investing in boring, right?

Because it sounds like from some of your first investments, if you’re going after oil and gas and you’re going after development deals, you’re obviously chasing higher returns. I see this happen a lot with investors where they see a 20 or 30%, IRR or return on investment. And those are not all created equal with.

Maybe more boring types of returns and we talk about how your approach is maybe shifted a little bit from, going after high risk, a return can be shifting more boring, having more Yeah. Portfolio approach to your investing, 

Steve Suh: right? Yeah, I did chase that shiny object early on in my first probably third of my syndication investing.

When I say development deals, these are actually, some of them were resort deals in international territory. I really got really exotic on those and did a coffee farm in Panama, which I’m sure will ultimately do fine, but I haven’t seen anything. And I think it’s been six or seven years since I’ve invested in that one.

But yeah, investing in a boring, a lot of people use this term means simply going after the bread and butter of real estate, commercial real estate, such as multifamily or self storage, mobile home parks, that kind of thing. And yeah, you can certainly get great upside with development deals.

But then, you also don’t cashflow for several years, so it could even be a development deal in multifamily, for example, in say Austin, but you may not see any return on your money for two or three years. And in my opinion, that’s a heck of a lot more riskier than getting a multifamily. Stay in Dallas and do their deal because it’s already established they may have 80 percent occupancy or more at the time.

Cash, getting cash flow on a monthly or quarterly basis is definitely very important when you invest in syndications because you’re risking your money. Every dollar you get back, you’re actually decreasing your risk in that investment. So it might be 50, 000 you’re putting in. If you get 20 back the first month and then 30 the next month, you’re risking that investment each time with a development deal.

For example, you may not see anything for two or three years, like I said, and then and if they do a good job and finish up, then yeah, that you may get some great upside at the end, but that’s a heck of a lot more risk. And at this point, the stage of my life, I don’t want to. Be into too many risky asset classes.

And I think that really should go for anybody really at any stage, because unless you’re making tons of money, I don’t think you should be risking your money in these kinds of deals because it’s like playing in the stock market. You don’t know what’s going to happen next because things can happen.

A recession can hit. I’ve seen development deals stop because of the past recession. So I think. Investing in boring asset classes such as multifamily and self storage and those kinds of things are very important for anybody in any stage in their investment career. 

Ben Fraser: Yeah, that’s absolutely agree with that.

Your very first lesson you highlight here is invest in yourself before investing in syndications. Talk about what you mean by that and why that’s important. 

Steve Suh: Yeah, I think I jumped into the syndication of the oil and gas play before I really even knew anything about it. I tried to learn some things online.

But yeah, you need to really educate yourself just if you were to go pick individual stocks, you really have to educate yourself about the business of each of the businesses that you are investing in. Spend a lot of time and money and don’t be in a hurry when you invest in syndications.

You have to really learn, there’s plenty of resources online. Our website has plenty of resources. You learn and then join a community. I think that’s really important to be part of a community like ours because you can learn so much from other investors who have been out there for, like myself, been out there for 15 years.

There’s others out there for maybe five or 10 years, but that’s certainly better than someone who’s never done a single syndication investment. So I think it’s extremely important to take the time, invest in yourself and don’t be in a hurry to invest in syndications because there’s always going to be deals out there.

There, it’s out there every time you get one of these email announcements that there’s a deal coming out, it sounds like it’s the latest and greatest, but believe me, there’s always the one coming out next week or two weeks later. So definitely take your time when you invest in syndications.

Ben Fraser: Yeah, I think that’s so smart. I see the same thing happen on my end where people. Get excited. And they get the buzz and the anonymity phase of alternative investments or syndications. And, they just got word from their cousin, Jerry, that they’re doing their first deal part time, and their market.

And it’s really important to understand what you’re investing in. And you, if you think about it from your perspective, okay, I will invest this money into syndication, throw out what I’m doing. And actually you have some capital losses, we ended up losing money in a lot of those deals.

That’s a very expensive mistake. I don’t know how much you invested, but say it’s a hundred grand over the course of a few years. That’s a very costly mistake that you could have learned some of the basics for a fraction of that amount, just investing in, like you’re saying, these different communities and reading different books, listening to other podcasts and watching webinars.

There’s so much you could pick up. What I tell a lot of people is when they’re just getting started and people that have say liquidity event, they sell a business they have a ton of cash of trying to deploy my advice is always invest it as slowly as humanly possible because what you’ll end up buying it is a lot of the deals that you do.

At first you may not do a couple of years down the road, you look back with hindsight and more experience and there is an element where you got to, you don’t want to wait forever, but you also want to wait until you feel confident in what you’re doing. You understand the risks you’re taking.

And one little point that you alluded to, which I think is such a funny comment, is, yeah, one of your lessons is embrace JOMO, J O M O talk, talk about that. Cause I think that is. It’s very hard to resist it in the moment when you’re new to it. 

Steve Suh: That stands for the Joy of Missing Out.

Now, everybody has heard of FOMO, which is a fear of missing out, but JOLO is the opposite. And I first heard that term from MC Labsher, who’s the cash cashflow ninja. He has a lot of great content out there as well. But anyways like I said, if you see a deal that looks great and it sounds like it’s the best deal you’re going to see all year long you may be too late in getting into that deal.

And then you get, maybe a little sad for that, that believe me again, there’s going to be a lot of deals out there. A lot of solid sponsors out there as well. Again, don’t rush into a deal and some of these sponsors will say, Oh, this is the greatest deal I’ve seen in the last two years.

And so then you might get excited about that. But I, a lot of that is marketing, unfortunately, but they’re just trying to raise capital as quickly as they can so they can get the deal done. But yeah, just if you embrace Jolo at times, just be happy because there are some deals that I was really wanting to get into.

And unfortunately I was not well, fortunately, actually I was not in those deals because they ended up not doing so well. So I’ve had some misses in the past, but I’ve also been able to save money by not getting in some deals that I thought were going to be great deals. So yeah, again, don’t don’t be in a hurry.

I think that’s really the key here is to just take your time, look at the deals, study a bunch of deals before you get into them. And you can also ask for, ask the sponsors for, Hey, can I see some of your past. Executive summaries or slide decks of your past deals so I can see what you guys are looking at and I can get a feel for that.

So that kind of maybe gives you a little bit more practice, if you will. And then you can ask them how their deals have been doing? And you can compare with their proformas to see how their deals are doing so far. 

Ben Fraser: Yeah, those are some great insights. Talk about this one. If you’re, being a podcast host or guest does not necessarily equate to being a great syndicator, right?

And, I gotta be careful, because I’m a podcast host and a syndicator, right? It’s but you’re exactly right. There’s Talk about your experience with that and why you brought that comment up. 

Steve Suh: Early on in my investing career with syndications, the only way I learned about syndicators was through podcasts.

Essentially, I didn’t have any connections. And I would hear them on the podcast or two, and think that that person sounds pretty good. Pretty brilliant. I think I need to talk to them. So I’d give them a call, get on a phone call with them for 30 minutes or 45 minutes and pretty much get convinced that boy, this person can do great stuff with my money.

I think so. So I would not really vet them. Maybe I would ask for a reference or two, but I think this is a slippery slope. Yeah, they may be great, yeah. Sponsor, they may be a great operator with their deals, but just because they sound good Or maybe they sound like they’re important because they have their own podcast doesn’t mean that they’re gonna be a great syndicator.

So You just have to really vet them out. Ask other people. Again, that’s where community is very important. You can ask people like, for example, on our forum, we have discussions on hundreds of different sponsors and you can just say, Hey, do you know about X, Y, and Z sponsors? And then some people will pipe up and say, Oh yeah, that person is great.

I’ve dealt with them and I’m in four deals with them and they have great communication. So these are the things that you really can rely on versus. Just listening to them on a podcast, on a it’s a uni unidimensional communication, right? So it’s, you’re not really talking to them, but even when you do get on a phone call with them, they may sound really great too.

So you, you always have to do your checks and balances and get references and talk to people who are much more along or are further along in their investing career than you are. 

Ben Fraser: That makes a lot of sense. Fortunately, unfortunately a lot of people that are good marketers, good at producing content, good at getting attention, it doesn’t always translate to being good operators, right?

And that’s just sometimes a very different skill set. And a lot of people, I think, find out about deals through the big content creators, but use that as a proxy for sophistication, professionalism, and character, et cetera, et cetera. When that may not correlate. And to your point, it’s sometimes hard to back channel the information.

It’s hard even if you’re asking for investor referrals, what’s to say they’re not just going to send you their cousin, or someone else, already has a bias. Anyway, they’re not going to send you the people that have bad things to say, right? So right to you, one of the great things with your community is you guys do have a very active engaged community that can back channel share real time experiences based off of what they’ve done.

So I think that’s a great Example of how a community can really help and bring more transparency to a lot of times what is not very transparent. 

Steve Suh: Absolutely. Yeah, that’s, yeah, they say that your net worth your network is your net worth, right? So I think that’s very valid even in passively investing in syndications because you can save a heck of a lot of money and anytime you lose capital that’s not good for your net worth.

The Importance of Communication

Ben Fraser: Let’s dig a little bit into, okay, I have a deal, I’m trying to figure out if this is, a good deal, good operator, the big scary due diligence words I have to do, I don’t know what that means, but some of the kind of interesting lessons here that are maybe different than some people might think of what you have to do for due diligence, one of them here is the early communication may be indicative of their later communication.

Talk about how important communication is in these types of investments. Okay. 

Steve Suh: Yeah, I wrote that chapter because I had an issue with a sponsor several years ago where I was trying to get into the deal and it took several emails for him to respond. And so then finally was able to contact him and then I wanted to get some information about getting the documents as such, and that still took a few emails to try to get information about that, to get them to me, the documents and then to wire the money, et cetera.

I pass that off as, Oh they’re, they’re busy, and then I think it was a month or two later, there was an email all of a sudden that said that since it’s, since we didn’t go through with that deal where, we’re just wondering if you want to put your money into our next deal that’s coming up.

And I thought wait a second. I never got an email about it. The deal was canceled. So that was really frustrating to me and that was just the last straw. So I said that that’s the way their communication is and I don’t want to invest with them because if you don’t have good communication, a good line of communication with the GP, the general partner, that just makes things so much more frustrating.

And we talk a lot about that. I think maybe about a fifth of our conversations are about communications with general partners. And we actually have a we just opened up our. Review site for sponsors. And that’s one of the questions that we have people rate on is how is their communication?

So in addition to overall performance, that kind of thing. So yeah if you don’t have good communication with the general partner, you’re not aware of what’s going on with the deal, then I think that’s going to be critical going forward. Even if you are, have been invested with them for two or three years in a deal, because If their communication is, I’m sorry, if their deal is going downhill, you want to, you want the communication to increase and not to decrease if something’s going bad with the deal.

Normally people sponsors will have an email communication once a month or at least quarterly. And if the deal is going south, I would expect that you’d want to communicate with them even more maybe every week or every two weeks because you want to be on top of things and have them aware of things.

And there are many stories in our forums about people not even knowing that the deal is getting foreclosed on. I mean that, if a deal is getting foreclosed, I think you should know that you should be the first person to know. You shouldn’t be finding this out. 

Ben Fraser: Yeah. 

Steve Suh: By a long time ago. The day before.

 Yeah, so these kinds of things are very important and yeah, even if the deal is going great, I still want to know about the deal, but know how things are going. And I think it’s good to also maybe compare how the returns are going, how the cash on cash returns are going compared to the performer returns.

Because if I want to ultimately do another deal with them, I want to know, If they’re, if what they’re projecting is close to what they’re, what their actual performance is. 

Ben Fraser: Yeah, no, I think that’s a huge one. It’s one of those kinds of qualitative factors that maybe doesn’t show up in an underwriting model that you’re looking at to see the returns.

But you can get into a good deal and with bad communication, your experience, you have no idea how it’s going and it can be frustrating to not be able to get the information back that you want. And. Especially in this kind of private syndication, the biggest knock and the biggest challenge is transparency, right?

There is not a liquid market. It can be hard to get the information. And so if you’re already having challenges there, it’s those early indicators. You want to pay attention to you because, from my perspective, if someone is not very communicative when they’re asking you for money, that’s the time they’re going to be the most communicative generally, because they have something they need from you and they’re trying to close a deal.

And so if you’re not getting the communication, then it’s a very good chance that it’s going to be even worse once they have the money and they’re moving forward in the deal. And it’s not always the case because there can be extended circumstances, but that is something you really need to pay attention to.

And I’m sure what you guys talk about in the community. One of the things I always tell investors is, ask for examples of prior communication, right? If they’re doing those monthly or quarterly reports. Asked to see the last, a few years worth of some of their other deals that they’ve done and see not only are they consistent on the frequency, but what are they actually saying in these communications?

Is it actually meaningful information that’s highlighting potential positive things or negative things, right? Are they actually being transparent is one thing to send, communication is another thing that you actually be transparent with how things are going. And I think that’s a challenge sometimes to get the actual information.

Yeah. Be a lot of the same lines, but another one of your lessons is to wait one year before investing again with the same sponsor. If you have, this is your first deal with them, talk a little bit about your rationale for that. Why? Why is that a lesson you’ve learned? 

Steve Suh: Yeah. I learned that lesson from one of our community members, Dave Shirky.

Very experienced passive investor and somewhere along the way he learned this lesson as well. So a lot of us have, he did this lesson. Yeah, I think what happens if and when there’s a lot of deal flow from a popular syndicator, you want to try to get into those deals.

And that was, I was definitely guilty of that. Even just a few years back. So the problem with that though is number one, you’re not necessarily getting that much cash flow, at least initially. So it may take three, six, nine months before you get your first distribution check from them. So if you wait a year, at least a year, and maybe I think I will, I might even change this in a second edition of this book to maybe two years.

But anyways, I think if you wait at least a year or two before you invest with them, you’re going to find out what their true if they’re actually with their performer returns on the cash on cash returns are they good with their communication as well? Cause you should be getting.

Monthly or at the very least quarterly communication from them. And what’s in that communication? Like you said, is it just a bunch of gibberish or is it a one page summary? Is it a, I’ve seen one of my sponsors has a hundred pages, everything is all those, Excel spreadsheets, et cetera.

That’s a little too much in my opinion, cause I don’t want to try to dice it, decipher all that information. But, if you can have at least a one or two page summary and then. Go into some of the details about, some problem spots and that kind of thing, that, that would be great.

So you’re not gonna really learn that if you’re not invested with them for at least a year. So I think that’s one of the best lessons that I’ve learned from the community about this. And so I’m trying my best to try my best to keep going with that role because it’s, I think it would’ve served me well just a few years ago if I hadn’t had that advice.

Ben Fraser: Yeah. And how does it play into your perspective on diversification? And what’s your perspective on, how do you diversify and you diversify across asset classes and sponsors and, there’s different levels of diversification. 

Steve Suh: Yeah, I think that’s probably one of my favorite lessons is the diversification piece.

Cause I think if I had just invested I’d have been pretty dumb to invest in just resort properties in other countries and just kept up that investment philosophy. But so I did learn after that, that I, yeah, I definitely need to diversify. By sponsor, of course. And then also by asset class.

I shouldn’t, don’t invest everything in multifamily and, look at self storage, look at mobile home parks. Industrial facilities and that kind of thing. The boring asset classes. And maybe if you’re, if you want to put a little bit of money into a resort property, I don’t see anything wrong with that just as long as it’s not a major part of your portfolio.

And then geography, like I said, that’s very important because real estate largely is local. And if Minnesota is not doing well one year maybe Texas is doing well. So it’s good to diversify. Your your investments by geography and then even timing, I, I think if you had if you came upon a million dollars today, I would absolutely tell you to not invest at all in six months or maybe even a year, maybe I would have spread it out over 5 two or three years because there are certain times if you had placed that money, maybe say two years ago, three years ago, you’d probably be in, you might be in some big trouble if it was in multifamily deals with bridge that you would, you’d probably lost most of your money at this point.

So I would say that timing is also very important in terms of diversification. Yeah, don’t, again, don’t be in a hurry when you’re investing in syndications. 

Ben Fraser: Yeah, makes sense. Talk about why the operator is the keystone of every syndication. 

Steve Suh: Yeah, I think this is an important lesson that I’ve learned and I would say that the operator is probably maybe, I like to say it’s about 80 percent of the success of any syndication and the deal itself, maybe 10 percent and then the location, another 10%.

So I say this because a great operator can save a bad deal, but a bad operator can quickly tank an A class property. So I think it really is. that this operator has a lot of experience perfectly, they’d be great if they had been through some, have been through some different cycles and have come out ahead.

But yeah the operator is absolutely the key and, they’re, you’ve probably heard the saying bet on the jockey, not the horse. And I think that when you have. a great operator, you can have more confidence. You certainly have confidence in them. And you want to, you want to develop relationships with these people as well.

So I think this is very important for your future. And if you just keep, if you keep just looking at a deal and just looking at the metrics that are, 25 percent IRR and that kind of thing, I think that’s really misleading and you shouldn’t be, you shouldn’t be just looking at those.

Metrics that are the return metrics you really should be looking at what is the operator gonna do for me? Not what is the deal gonna do for me? 

Ben Fraser: Yeah. Yeah, absolutely. What about the capital stack and debt structure? How do you Think about that maybe differently than you did earlier on.

And what are you looking for now when you’re investing in a deal to understand the kind of key risks of that particular investment? 

Steve Suh: So yeah, I wrote that chapter. It’s one of the newer lessons I guess I’ve learned. I’m still learning it right now, the capital stack just means, where is your money in terms of the return on the capital.

There’s a picture in my book. And you can just Google capital stack as well. And you’ll see on the bottom, you usually have senior debt, which is typically the bank which is going to be the majority of the money coming in for the, to buy the deal. And then you’ll have mezzanine debt there.

And then there’s going to be maybe pref equity, preferred equity. And then there’s gonna be common equity, which is where most of the LP investors are going to be investing. But the common equity is where you’re going to be, you’re gonna be the person to get the last monies or last return of capitals in other words.

So it’s going to be definitely higher returns than what the bank’s going to get, but it’s also higher risk because you’re the last person to get paid. So you always have to keep that in mind. So when you look at it, So the loan devaluer, the LTV, if it’s a high LTV, say 75, 80% that means that the bank’s going to get their 80 percent back first before you’re going to really get any significant money back in terms of your capital and the return.

So if they have low LTV, say 60 or 65%, that means you’re going to, it’s not leverage as high. So you’re going to be in a safer zone because you only have to give the bank 60 percent or 65, 65 percent back. So you’re going to be in a better situation. That’s extremely important.

And then in terms of the debt structure, like I mentioned before, these bridge debt deals that were out there that had a variable floating rate loans, yeah, those were, those we’re finding out now that we’re getting into trouble on a lot of these deals because, The interest rates went up so high, so quickly in a short period of time.

Unfortunately , a lot of these deals were not able to keep pace with that because their interest payments went up by millions a year and that’s not something that was projected in the performance unfortunately. So you really need to look at that and look at your risk tolerance for that.

So going forward, I think I will, I hope to never invest in another bridge of that deal in my career. I think if I had done some of these multifamily deals that had long term debt, So say, 10 years or whatnot, I, none of these deals that I’m in would be in trouble right now.

Ben Fraser: Yeah. Yeah, absolutely. 

Final Thoughts and Contact Information

Ben Fraser: Man, Steve that’s some jam packed information here. We only hit a couple of the lessons. So definitely encourage people to get the book here. He has 20, 20 lessons. And these are real world examples of things that have happened in 15 years.

A lot of people have been investing in the syndication. Definitely appreciate you coming on Steve. What’s the best way for listeners to learn more about you, learn more about left field investors and the community that you guys have built. 

Steve Suh: Yeah. So they, the best way to contact me would be to just email me steve at leftfield investors.

com. I’m also on LinkedIn. You can find me there. And then also the, of course the website is leftfield investors. com. And like I said, we have a lot of free resources on there, a lot of great links to podcasts and books, et cetera. So yeah. You can get a great head start just by going to that website.

And then if you’re interested in joining the infield, which is the inner circle membership group you can, we’re happy to have you there as well. And you’ll be able to get out to our forum, which I think has the most value. And then we also, like I said, we have a syndicator review site now as well, which is going to be which is being built up right now.

I think we’re happy to have anyone join our group. 

Ben Fraser: Awesome. Thanks so much, Steve. Appreciate you coming on. 

Steve Suh: Thanks for having me. 

Ben Fraser: This is the Invest Like a Billionaire podcast, where we uncover the alternative investments and strategies that billionaires use to grow wealth. The tools and tactics you’ll learn from this podcast will make you a better investor and help you build legacy wealth.

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